Blog

TallyPrime Adjustment Entry

Table of Contents

Nature of Adjustment Additional Details Ledgers to be Debited and Credited
Decrease of Tax Liability Adjustment Against Credit Explained in Recording Journal Vouchers for Adjustments Against Tax Credit under GST
Decrease of Tax Liability Cancellation of Advance Payments under Reverse Charge Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Expenses or current assets ledger.
Decrease of Tax Liability Cancellation of Advance Receipts Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Expenses or current assets ledger.
Decrease of Tax Liability Cancellation of Advance Receipts for Exports/SEZ sales Debit – Integrated tax and cess ledgers.
Credit – Expenses/current assets ledger.
Decrease of Tax Liability Purchase against Advance Payment Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Expenses or current assets ledger.
Decrease of Tax Liability Sales against Advance Receipts Debit – Integrated tax and cess ledgers.
Credit – Expenses/current assets ledger.
Decrease of Tax Liability Sales against Advance Receipts for Export/SEZ sales Debit – Integrated tax and cess ledgers.
Credit – Expenses/current assets ledger.
Increase of Input Tax Credit Import of Capital Goods Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Current assets ledger.
Increase of Input Tax Credit Import of Goods Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Current assets ledger.
Increase of Input Tax Credit Import of services Debit – Integrated tax and cess ledgers.
Credit – Current assets ledger.
Increase of Input Tax Credit ISD Transfer Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Party ledger.
Increase of Input Tax Credit Others Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Expenses/current assets ledger.
Increase of Input Tax Credit Purchase from SEZ Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Expenses/current assets ledger.
Increase of Input Tax Credit Purchase from Unregistered dealer Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Expenses or current assets ledger.
Increase of Input Tax Credit Purchase under reverse charge Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Expenses or current assets ledger.
Increase of Input Tax Credit Re-claim of reversal ITC (on account of buyer payment) Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Expenses or current assets ledger.
Increase of Input Tax Credit Re-claim of reversal ITC – Rule 42 (2)(b) Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Expenses or current assets ledger.
Increase of Input Tax Credit TCS Adjustment Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Current assets ledger.
Increase of Input Tax Credit TDS Adjustment Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Current assets ledger.
Increase of Input Tax Credit Transitional Credit Explained in Recording a Journal Voucher for Transitional Credit under GST
Increase of Input Tax Credit Transfer of ITC (applicable only for Ladakh) Debit – SGST ledgers
Credit – UT Tax ledgers
Increase of Tax Liability Advance Receipts for Export/SEZ sales Debit – Expenses or current assets ledger.
Credit – Integrated tax and cess ledgers.
Increase of Tax Liability Advances Paid under Reverse Charge Debit – Expenses or current assets ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Increase of Tax Liability Import of Capital Goods Debit – Current assets ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Increase of Tax Liability Import of Goods Debit – Current assets ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Increase of Tax Liability Import of services Debit – Current assets ledger.
Credit – Integrated tax and cess ledgers.
Increase of Tax Liability Interest Debit – Expenses or party ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Increase of Tax Liability Late Fees Debit – Expenses or party ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Increase of Tax Liability On Account of Advance Receipts Debit – Expenses or current assets ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Increase of Tax Liability Others Debit – Expenses or party ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Increase of Tax Liability Penalty Debit – Expenses or party ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Increase of Tax Liability Purchase from Unregistered dealer Debit – Expenses or current assets ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Increase of Tax Liability Purchase under reverse charge Debit – Expenses/current assets ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Increase of Tax Liability & Input Tax Credit Import of Services Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Central and state tax or integrated tax, and cess ledgers.
Increase of Tax Liability & Input Tax Credit Purchase from Unregistered dealer Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Central and state tax or integrated tax, and cess ledgers.
Increase of Tax Liability & Input Tax Credit Purchase under reverse charge Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Central and state tax or integrated tax, and cess ledgers.
Opening Balance — Procedure is explained in Transferring Tax Credits of VAT, excise and service tax to GST
Refund Not Applicable Debit – Bank ledger
Credit – Central and state tax or integrated tax, and cess ledgers, or current assets ledger
Refund Interest Debit – Bank ledger
Credit – Central and state tax or integrated tax, and cess ledgers, or current assets ledger
Refund Late Fees Debit – Bank ledger
Credit – Central and state tax or integrated tax, and cess ledgers, or current assets ledger
Refund Others Debit – Bank ledger
Credit – Central and state tax or integrated tax, and cess ledgers, or current assets ledger
Refund Penalty Debit – Bank ledger
Credit – Central and state tax or integrated tax, and cess ledgers, or current assets ledger
Reversal of Input Tax Credit Not Applicable Debit – Expenses or party ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Reversal of Input Tax Credit Capital credit due to exempted supplies – Rule 43(1) (h) Debit – Expenses or current assets ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Reversal of Input Tax Credit Exempt and non-business supplies – Rule 42(1)(m) Debit – Expenses or current assets ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Reversal of Input Tax Credit Import of services Debit – Expenses or current assets ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Reversal of Input Tax Credit Ineligible credit Debit – Expenses or current assets ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Reversal of Input Tax Credit ISD credit note – Rule 39(1)(j)(ii) Debit – Expenses or current assets ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Reversal of Input Tax Credit Non-payment to the Supplier – Rule 37(2) Debit – Expenses or current assets ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Reversal of Input Tax Credit On account of claiming more – Rule 42 (2)(a) Debit – Expenses or current assets ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Reversal of Input Tax Credit Others Debit – Expenses or current assets ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Reversal of Input Tax Credit Purchase from Unregistered dealer Debit – Expenses or current assets ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Reversal of Input Tax Credit Purchase under reverse charge Debit – Expenses or current assets ledger.
Credit – Central and state tax or integrated tax, and cess ledgers.
Reversal of Tax Liability Import of Services Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Expenses or current assets ledger.
Reversal of Tax Liability Purchase from Unregistered dealer Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Expenses or current assets ledger.
Reversal of Tax Liability Purchase under reverse charge Debit – Central and state tax or integrated tax, and cess ledgers.
Credit – Expenses or current assets ledger.

Share with your friends

Share on facebook
Facebook
Share on twitter
Twitter
Share on whatsapp
WhatsApp
Share on pinterest
Pinterest
Share on linkedin
LinkedIn

Leave a Reply

Anil Computers

Anil Computers

Best computer Institute in Udaipur

download (2)
RSCFA_Anilcomputer_udaipur
rscit_anilcomputer_udaipur
caddesk_udaipur
20years of experience Anil computers
five-star Rating Anil computers Udaipur
BEST COMPUTER INSTITUTE IN UDAIPUR
Quiz_Anilcomputers1

सर्टिफिकेट  पाने के लिए अपने रिजल्ट का Screen shot नीचे दिये गये मोबाइल नम्बर पर send करें। साथ ही एक बार काॅल जरूर कर लेवें।

  • 9414234600
A very good institute for all student who want to learn computer basic and other courses and the staff is very helping nature ...
Rekha Paliwal
Thank you Anil computers. Had a great learning session with the institute..Teachers are highly concentrated towards to the students
Hardeep Singh
It is the best computer class for c and c++ course . It was a great experience there, and the staff is very helping and kind to all .
Phalguni Bhatia
Previous
Next

Notice: Undefined index: force_wall in /home/waapsols/public_html/anilcomputersudaipur/wp-content/plugins/ocean-extra/includes/widgets/facebook.php on line 155